Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
So, unless I am reading this wrong, we see that the Plaintiffs have filed a "Ex Parte Application". Because they are saying Jeff violated court order in regards to the issuance of the settlement bond. The plaintiffs are saying Jeff already screwed up? Who would have seen that coming?
On a serious note though, has anyone looked at the supporting documents yet that were submitted by both sides. Should be some interesting info there. Maybe some info on the settlement agreement?
https://legal-dictionary.thefreedictionary.com/Ex+parte+application
OilRush -> I very much appreciate your insight. And I can not argue with your view and do hope you the best outcome as possible. I would just say, make sure you keep watching the lawsuit as it is your only view into anything with this ticker (even though it is not so much "directly" related).
As a side note to the group. Can anyone confirm a current location for Jeff? I see a new address popping up more for Jeffrey Dwight Bearden recently in my google searches (Tylertown, MS). Though it would explain why no one has been able to contact him at Silverspring MD address.
One of the many places where it pops up. But kinda amazing the amount of info the internet holds of everyone.
https://www.fastpeoplesearch.com/jeffery-bearden_id_G-8804654278964901818
OilRush -> So, it sounds like you are still holding. Let met ask this if I may. Are you still holding hoping for a miracle outcome as you stated in a post early last month? What would it take or force you to pull back from the stock at this point?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=164340740
I guess this is a good question for anyone still holding. What has you still holding?
Additionally, it has been 15 days since a "settlement" was reached. but yet the plaintiffs have yet to submit to the court whether they want to dismiss or proceed with the court case. To me, that seems like there is some unfinished business or plaintiffs are not sure if Jeff could even hold up his even of the supposed agreed settlement. Hence why they are requesting the court to enforce the agreement.
OilRush -> I can only believe that it has to do with a comeback mentality, hoping for a miracle in the field of dreams.
I do know 2 people that are holding because they are holding for complete loss or miracle ending. Letting the system decide for them. outside of that, I do not know. Maybe big holders that bought and forgot? or not watching? Know something that we do not here. Who knows.
While I have been out, I have just been using the opportunity to watch and learn from this. Along the way posting the info that I discovered from digging into things.
As the old saying goes, you can lead a horse to water, but you can not make it drink. With every investment, its up to the people to make their own decisions. It probably wouldn't matter what anyone posted up at this time.
Sadly, not meant to be funny. Just wanting to give a visual to the seriousness your previous statement. Some people just do not understand the seriousness of the words posted here.
OilRush -> I would agree with PhenixBleu on his view.
From what we do know, Jeff has 2 failed business over the past 15 years or more (B&D and Synrgy).
He has 2 shells (ACCA and Synrgy)that he cannot even pay to keep current.
He had to borrow money from the bank to start ORCIM Financial Holdings that holds the ACCA shell.
The court case shows he failed to fund Acembly and the bottom dropped out.
The past court cases on public record show many high dollar cases against him. https://casesearch.courts.state.md.us/casesearch/
There are smart business people that separate business and personal. Where they will get others to fund their business adventures. But in this case, a picture of everyone backing away from Jeff has been painted. When banks will not even touch him, you have to ask why.
Maybe I am wrong. If anyone has info saying another side, I am all ears. I am still trying to wonder what Jeff is paying his legal counsel with.
Interesting. I will have to watch that.
Buccaneer1961 -> Not sure if it would happen (sec filings).
The settlement for all we know could have been Jeff giving the company (Acembly) back to plaintiffs. Or it could have been Jeff paying out the butt to them (not sure where that money would come from though since he has not had any to do simple sec filings).
For all we know, Jeff could be using ACCA and SNGY business failures off in taxes. He may have been the one selling shares on July 19th that caused the price drop. Anyone watching share structure?
Point being, you may not hear anything about either shell till they are forced off the market by SEC. So not something you would want to hold your breath on.
Just the court saying that it will not wait in limbo. Telling the sides to either file to close the case or to continue with trial.
The court is not going to enforce the "settlement" since it was agreed on outside of court.
Technocrack -> Looks like a settlement of some sort was reach that satisfied the plaintiffs.
What it was and how bad Jeff is hurting now is open to anyone's guess. Looks like both ACCA and SNGY have been going down.So does not look like anyone is liking where either shell is going.
Yankee2 -> Just to look at from another view. No one here could honestly know if "insiders" have dumped or still holding. There has been no SEC filings to show either way. Also, we have seen decent price drops and sell offs. And as for Jeff, the shell is worth more with the more shares he can have. So, I would not see him "dumping" unless there was no way for him to sell the shell or something of that nature.
As for other "insiders" we have yet prove anyone is working under ACCA/Synrgy/B&D. Last thing anyone could confirm was all the staff and engineers that were let go towards the end of 2019. Looking at the LinkedIn profiles of supposed C-level staff that was brought into ACCA will show no connection (Timothy L. Matthews and Larnell C. Simpson Jr.). Actually, even attempting to contacting those members has reviled they have turned down their offers from ACCA.
Again, playing devils advocate and only looking at the facts that we can confirm.
I do hope you and any others that may be holding do get gold. But I do not believe there will be any kind of surprise happy ending. But I am no fortune teller. I guess you shall have some kind of insight by July 15th in the court case. Though I would not hold my breathe based on what has been seen so far (more of a lack of seen).
I hear you loud and clear PhenixBleu. That was my assumption as well, but I only wanted to talk about what was actually filed. And from the docs I was reading, there was no confirmation of agreement or okay by judge or the court yet on those filings by Jeff. Just Jeff saying from his view that he and the plantiffs reached a deal (could actually be false). So everything is still unofficial the way I understand it.
While I have only been watching this for learning and entertainment value, I did wonder something. This case has no immediate "direct" impact on ACCA or its holding company Orcim Financial Holdings, LLC that I can see at this point. So why would Jeff try to trash this shell (ACCA) when it is worth way more sold as is vs after trying to dilute or involve it in his court case? borrowing from an old saying, it would seem like another round in his foot.
As discussed before, this case only gave us insight into Jeff's world and what other things might be going on. So it is not truly representative of what is going on with ACCA/Ocrim right now. Same cannot exactly be said about SNGY "shell" as the "synrgy" name is directly involved in the court case. So, SNGY is definitely on the chopping block if our thoughts on case matter going forward is true with diluting and all.
The "mingling" of B&D/SNGY/P3 company representation and funds already got Jeff into this situation. One of the many reasons the plaintiffs are suing Jeff. Would Jeff be brazing enough to add in ACCA/Orcim mingling at this point as well? Why would Jeff want to make it worse for himself?
Though on the other hand, with SEC suspension looming or the potential of Jeff going to jail on fraud charges. This could just end with everything being beyond worthless in the end over the next couple of months anyhow.
God help anyone trying to stay in this shell or daring to even get in at this point. It really does look like one heck of a massive crash and burn coming from everything discussed here.
Just another NOTICE OF LODGING and a stipulation.
Just more "wishful" filing by Jeff. Nothing binding yet and still no official word from plaintiffs.
Krisc62 -> Have any news/fact source(s) on what your saying? I think I am missing what your talking about.
While I have been loosely watching this ticker, I have not seen it being removed yet or anything of that nature (though time is ticking on that SEC deadline coming). Nor have I seen anything that would suggest SNGY has filed required paperwork to become current (or even working to be current).
https://sec.report/CIK/0001483798
https://www.otcmarkets.com/stock/SNGY/overview
My big question is this, if he cannot even pay for simple SEC filings, who in the world is going to give him an additional amount of money between Six Hundred Fifty Thousand Dollars ($650,000) and Seven Hundred Thousand Dollars ($700,000.00)? Specially since the Acembly company has fallen apart and not profitable at all. Seems like throwing money into a fire to burn brighter at this point.
Considering Jeff seems to not have any real money, I wonder what kind of deal Jeff's defense counsel Michael B. Wilson has for being his defense. My guess would probably be something worthless like small cash sums, shares in some of the shells, and/or partial ownership in one of Jeff's company.
OilRush -> No problem. But sadly none of it helps with understanding the ACCA situation.
Also keep in mind what the docs are showing is very vague and no details on what the "deal" worked out is.
Additionally, nothing has been done with the shells. And Jeff/ACCA/SNGY is looking down the barrel of the SEC timeline right now.
STIPULATION for Issuance of Order for Procurement of Settlement Bond filed by Defendant Jeff Bearden.(Wilson, Michael)
"WHEREAS, Plaintiffs and Defendants have reached a tentative settlement of this matter;"
"WHEREAS, as a condition of settlement, Defendants will secure a surety bond covering the settlement amount with Plaintiffs named as the bond beneficiaries;"
"WHEREAS, a Court Order is required to allow Defendants to procure a surety bond;"
"IT IS HEREBY STIPULATED AND AGREED TO BETWEEN THE PARTIES
that, in order to allow settlement of this matter to proceed:
1. Plaintiffs and Defendants request that this Court issue an order authorizing the issuance of a surety bond, in favor of Plaintiffs, in an amount between Six Hundred Fifty Thousand Dollars ($650,000) and Seven Hundred Thousand Dollars ($700,000.00).
2. That the requested Court order identify Plaintiffs as the beneficiaries of the bond.
3. That Defendants shall file proof of issuance of the bond within eight (8) calendar days of the issuance of this Order.
4. That the bond be released upon the earliest of
(a) court order, (b) joint stipulation of Plaintiffs and Defendants agreeing to release of the bond, or
(c) December 31, 2021. If there is no further order of this Court or joint stipulation prior to December 31, 2021, the bond will be released on December 31, 2021 without further court order.
5. Should a final settlement agreement not be executed by July 15, 2021, the bond shall be immediately released upon notification to the surety by either counsel for Plaintiffs or counsel for Defendants."
Reason highlights for Ex Parte to continue the trial.
"PLEASE TAKE NOTICE that Defendants Jeff Bearden, Acembly, Inc.,
Synrgy Corp. and B&D Consulting (collectively, the “Defendants”), hereby apply to this Court, ex parte, pursuant to Local Rule 40-1, for an order continuing the trial in this matter, currently set for August 3, 2021 by at least three months because counsel for Defendants recently learned that he must undergo a medical procedure on his eyes. Defendants brings this ex parte application on the grounds of medical necessity."
"Defendants make this request because, as set forth more fully below, good cause exists for a short continuance given the necessary medical procedure and because Plaintiffs’ counsel has indicated that Plaintiffs do not oppose granting a continuance. Denial of the requested continuance will result in prejudice to Defendants as Defendant’s counsel is currently experiencing severe vision problems and is therefore limited in his ability to operate."
"Beginning mid-May 2021, Defense Counsel Michael B. Wilson (“Mr. Wilson”) began experiencing severe eye problems including objects in his field of vision and severely blurred vision. (Declaration of Michael B. Wilson, filed concurrently herewith (“Wilson Decl.”)"
buccaneer1961 -> I have not looked at the documents. But considering that both case "updates" are just Jeff and his other entities filing additional "lodging" and "EX PARTE" application, I suspect that once you see the contents, it would be a very negative outlook. I would take it as just drawing things out or buying time for some unknown long play.
If anyone out there has access to the case update attachments, please let me know. I would love to hear or see what is in them exactly.
OilRush -> I appreciate the kind words and honest response.
I have to admit, some of my best plays (and worst) have been based around long shots. When those long shots do happen, man it is such a great feeling of being on top of the world. lol.
You do bring up a good point and I have been thinking about it myself. What did Jeff/ACCA put on the line to secure loan with Geneva Capital? I would love to see that contract.
OilRush -> That is interesting to see. But I do have to ask why someone would want to buy in. Considering everything uncovered by the members here and other platforms, it does appear to be a dead end soon for Jeff's shells.
I am not trying to crap on someone for buying what they want with their own money. But the facts just do not point at all to the shell worth buying any stock of.
Also, if I may ask. What is it that has you as "still one of the believers"? What is it in your view that keeps you looking at a potential positive outlook? Are you riding the idea of the shell being sold? or something else?
PhenixBleu is ahead of me and spot on with the "lodging".
Only thing I have to add is the "lodging" is a "proposed order". Without being able to see the document, I cannot comment on what it actually is. But, I can leave you with the following info link in case you wish to understand more.
https://www.lawinsider.com/dictionary/proposed-order
So Jeff submitted to the court an application to move the court date to November. I see it as just more time for him to draw things out. But I have not been able to see the submission yet.
Does anyone have a copy of the application submitted to the court? What is the reasoning in the application? Does it state any info on the mediation Jeff submitted a request for?
If granted this extended date, it puts it well beyond the SEC deadline. So not sure the SNGY group will see their shell be filled anytime before the shell gets handled by SEC actions. Something to keep in mind I guess.
Though you have to ask yourself this. If the court documents we have seen are correct, what is the court case even worth in the end? Jeff apparently was not able to pay the employees and they left. At this point it is a empty company with no staff to run or do things. If all the employees, engineers, other staff left with their knowledge and understanding of the Acembly "service", what is Jeff left with? Just a empty company that I do not believe he could get running again.
Still no SEC filings by Jeff for either of his shells (ACCA and SNGY).
Anyone have any updates on the Government investigation with the fake submissions Jeff used for the PPP loans under SNGY, B&D, and Acembly?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163754702
yankee2 -> In case you were looking to contacting him outside of the email addresses collected on this forum, feel free to try confirmed snail mail or his direct cell.
He has had it listed openly on SEC ( https://www.sec.gov/cgi-bin/browse-edgar?CIK=1001463 ). Which is also listed at the top of the ticker page on Ihub here.
One question I have been wondering on is, does Jeff still work at P3 Partners llc? Or was there some bad blood created with dragging P3 through the Acembly lawsuit? Or is there any kind of connection Jeff is still trying to ride there? Anyone try contacting the "owner" (Mr. Charlie Rolader) recently to try and confirm Jeff's current status there? His email is: charlie.rolader@p3partnersllc.com
jeff.bearden@p3partnersllc.com
http://www.p3partnersllc.com/
yankee2 -> No one that I am aware of. At least no one that wants to step forward about it.
I can attest that multiple of us here have tried to email him at every known email. But I am not aware of any response outside of "please wait for official news" in the beginning.
Well, there has not been any of that official news since 2021-03-31.
On a side note, there still is no update to court case with Jeff. unless the mediation is being hidden from court records, it looks like plaintiffs are not wanting to go that route as there was no confirmation from their side.
I agree with what PhenixBleu is foreseeing.
Additionally, link provided does not work.
Technocrack -> I understand, it is going to be a big change that we will not see the full impact until after the fact.
As for the "10 years aspect", that is what the new rules are hoping to fix. So, come September, we will be seeing what happens.
Technocrack -> Please see this post for bit more info on the matter.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163631733
Now, keep in mind that the September date is the hard cut off date. Companies that will be affected by it will need to start getting in order and current well before that date. Just think how many companies are going to submit to SEC in such a short time. SEC only has so many people and resources to go through the paper work. Hence why the "June 30, 2021" date SEC is putting out. Otherwise no guarantees for their paperwork to be processed before the September deadline.
yankee2 -> I greatly appreciate your view and response. I am not trying to call you out or anything negative like that. I was asking purely out of my own curiosity from reading your recent responses. Just trying to look at what we have here from all views as possible. I am glad to hear that you were able to make gains where you could, that is the honest name of game in the end.
It really is a shame how Jeff/"MGMT" have failed the prospects of shell/company potential here. It would have easily gone double dollar digits if what was expected with this shell had happened. No doubt about that. You do not have to go far to see potential, just look at SNGY. And what many of us have put together in the beginning from the pieces of info we had really pointed to that.
Sorry to hear your source has ghosted you. Would really make one wonder why. Although, with what we have information wise now, probably points to why. But what can you do? Just go with the flow and try to make informed choices is all one can do.
Now it is time to sit back and watch how this "show" will unfold for entertainment and learning purpose. But looks like we already know the ending. Take it as a learning lesson and use the knowledge in the future.
Again, I thank you for you and everyone else's views here. If we work together as a group, we can win as a group. Or at least dampen the blow in this case. Live and learn.
yankee2 -> Outside of a small gain potentially based off of market manipulation, I have an honest question for you.
What has you believing a potential "multi-pennies" success with the stock ticker?
If Jeff is not able to get investors, not willing to sell the shell, companies have no income, court case potentially take his new company away, potential Federal legal trouble over PPP loans and SEC closing in to delist the stock. I am not exactly sure about the happiness from your post. Is there something I am over looking that has you honestly thinking of "multi-pennies"? Specially not knowing the exact time we have left.
I had put in a request to become one awhile back, but did not happen.
I have resubmitted my request. Sorry to be a pain.
Just to keep up with weekly house keeping, there has been no new court case updates. Not even an official response in Jeff's last court request.
https://www.pacermonitor.com/public/case/37594863/Kennedy_et_al_v_Bearden_et_al
https://www.docketbird.com/court-cases/Kennedy-et-al-v-Bearden-et-al/cacd-2:2020-cv-11483
One thing that has been bothering me in regards to the last court case update (5/5/2021) is the request was filed by Jeff directly and not his lawyer. Makes me believe that he is unable to pay legal fees. So yea, it does make me believe he is trying hail marys with nothing left.
Any of the board mods -> Is it possible to get post #3081 pinned as a sticky note for the board? Just so that information does not get lost in the list and can be easily seen by anyone looking at this stock.
Something maybe someone here may have more information on. Has anyone here been able to verify actual employees?
PPP loans taken under Synrgy:
https://projects.propublica.org/coronavirus/bailouts/loans/synrgy-corporation-7000158503
AND
https://projects.propublica.org/coronavirus/bailouts/loans/synrgy-corporation-1369028208
More info behind why I am looking at the PPP loan details here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163754702
Looking to dig into this from a different angle, I decided to look at the legal system in Maryland since Jeff and his companies are setup/based there.
Using the Maryland court case search at http://casesearch.courts.state.md.us/casesearch/inquirySearchParam.jis , I decided to pass him and his company names through. Not sure why I have not done this before.
He apparently had (or still is carrying) a heavy debt load. I would suggest taking a look at the following case records found.
Maryland Court Case #1
http://casesearch.courts.state.md.us/casesearch/inquiryDetail.jis?caseId=C13CV20000016&loc=62&detailLoc=ODYCIVIL
Maryland Court Case #2
http://casesearch.courts.state.md.us/casesearch/inquiryDetail.jis?caseId=C21CV20000250&loc=59&detailLoc=ODYCIVIL
Maryland Court Case #3
http://casesearch.courts.state.md.us/casesearch/inquiryDetail.jis?caseId=C21CV20000382&loc=59&detailLoc=ODYCIVIL
Maryland Court Case #4
http://casesearch.courts.state.md.us/casesearch/inquiryDetail.jis?caseId=C21JG20000231&loc=59&detailLoc=ODYCIVIL
While all of the above case links should be looked at. If interested, should really take a look at the United States of America case/lien against him (the last link).
PhenixBleu -> It sounds like he was only putting on a show to try and get his way. The Acembly court case is really showing his claim is false.
It is possible that any of his PPP loans could have been frozen. But from I can see from open PPP info I could look through, all of those loans were already fully paid out.
Now, we know of the bank loan from "Geneva Capital". Which is not a big name bank and looks more like a loan shark company (may be wrong). So, I think he himself and his companies are in very bad financial situations to where the banks wont even touch them.
And this goes to reinforce the idea that none of his companies have income and probably in great debt.
mark5050 -> No no, I believe you are mixing things up here a bit. Let me see I can clear things up.
Event #1 currently going on
The Small Business Administration has reach out to old employees from old B&D Consulting employees (Have not heard from any old Synrgy employees to see if they are being interviewed) in regards to the PPP loans potentially being used fraudulently. And to get details of when employees there were let go and confirm all the "employees" that do not appear to really exist that Jeff has been claiming on his PPP loan docs for his companies.
How SBA got involved I am still trying to find out. I wonder what red flag(s) got them looking at this.
Event #2 currently going on
The employees from the Acembly buyout are the ones suing Jeff. From the court documents, Jeff has been unable to pay those employees since early last fall and has run the company into the ground.
As a side note
The PPP loan info for show only "3" employees at Acembly. One would have to be Jeff, another is probably a VP or secretary. Third may be a lawyer? So does not look like they really have anything going for the company.
PhenixBleu -> What I truly just do not understand is where is and what happened to all that money? Did it really go into his pockets to start up ORCIM Financial Holdings, LLC, buy ACCA shell, use the funds to pay old employees, etc...?
The loan from "loan from Geneva Capital" that was additional capitol on top of the PPP loans, looks to have been used for the buy of Acembly and some of the ACCA debt.
Just seems like a lot of money went in Jeff's direction but nothing came of it at this point.